Adonis and Goldust (when he first debuted) pulled it off best. Gorgeous George was the original, but I don't know if I would consider him a gay character as much as an overly flamboyant one. Calling George gay because he bleached his hair and wore a feathered boa is like calling Hulk Hogan gay because he did the same, since Hogan basically stole the idea from Buddy Rogers and Billy Graham, who stole it from George.